The business services market faces a complex environment – a continued trend towards outsourcing but with huge near term pressure on providers, especially from government – the key customer to many. Against this backdrop suppliers require a clear strategy, an effective bidding process, efficient operating models and robust management information.
The Professional Practices market is currently undergoing major structural changes, particularly within the legal market. Clients are demanding more for less and many legal services firms are responding with an acute focus on operational efficiency – maximising opportunities while lowering costs. The trickle of firms embracing legal and business process outsourcing has grown steadily in the last couple of years. New players – such as consumer businesses and insurance companies are entering the legal market. The Legal Services Act has introduced new opportunities for raising capital, which is resulting in fundamental changes to the business model for many firms. Those that want to succeed must carefully consider their strategy, structure and investment and make an informed choice about their future direction.
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